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TSYS MERCHANT SOLUTIONS, LLC DBA GLOBAL PAYMENTS, INC.
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TSYS MERCHANT SOLUTIONS, LLC DBA GLOBAL PAYMENTS, INC.
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Last modified
5/20/2025 3:55:26 PM
Creation date
5/22/2023 2:32:25 PM
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Contracts
Company Name
TSYS MERCHANT SOLUTIONS, LLC DBA GLOBAL PAYMENTS, INC.
Contract #
A-2023-077
Agency
Finance & Management Services
Council Approval Date
5/2/2023
Expiration Date
12/31/2025
Insurance Exp Date
4/1/2026
Destruction Year
2030
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IX. Conditions <br />A. Change in Control <br />If, during the policy period, the Named Insured consolidates with, merges into, or sells all or substantially all of <br />its assets to another entity, or if any entity acquires management control of the Named Insured, then the Policy <br />will remain in full force but only with respect to a third party wrongful act and first party incident (other than a <br />cyber-extortion threat) involving the Named Insured that occurred prior to the date of the consolidation, <br />merger, sale or acquisition of management control; provided, however, coverage will remain in force for a third <br />party wrongful act and first party incident (other than a cyber-extortion threat) first discovered and for a cyber- <br />extortion threat first occurring subsequent to the date of the consolidation, merger, sale or acquisition of <br />management control, if within thirty (30) days of the takeover effective date (1) the I nsurer receives written <br />notice containing full details of the transaction, (2) the Named Insured accepts all Policy amendments required <br />by the I nsurer, including the addition of special terms, conditions and exclusions, and (3) the Named Insured <br />pays any additional premium charge. <br />The above provision may be waived in writing by the Insurer. <br />B. Action Against the Insurer <br />No action may be brought against the Insurer unless, as a condition precedent thereto, (1) the Insured has <br />fully complied with all of the terms, conditions and other provisions of the Policy, and (2) the amount of the <br />Insured's obligation to pay has been finally determined, either by judgment against the Insured after a trial and <br />appeal or by written agreement by the claimant, Insured, and Insurer. <br />No person or entity will have the right under the Policy to (1) join the Insurer or its agents and representatives <br />as a defendant, co-defendant or other party in any action against the Insured to determine the Insured's <br />liability or (2) implead the Insurer or its agents and representatives in any such action. <br />C. Bankruptcy <br />Bankruptcy or insolvency of the Named Insured will not relieve the Insurer of any of its obligations hereunder. <br />D. Other Insurance <br />This Policy is excess over any other valid and collectible insurance, whether prior or contemporaneous, unless <br />such other insurance is expressly written to be excess of this Policy. <br />E. Subrogation <br />In the event of payment of loss by the Insurer under the Policy, the I usurer is subrogated to all of the Insured's <br />rights of recovery against any person or entity to the extent of such payment. The Insured warrants and agrees <br />to execute and deliver instruments and papers and do whatever else is required by the Insurer to secure, <br />prosecute and collect on such rights. The Insured further warrants and agrees not to prejudice such rights. <br />If, prior to a claim being made, the Insured Company has waived its rights to recovery against a person or <br />entity in any written contract or agreement, then the Insurer will waive its rights to subrogation against such <br />person or entity to the same extent as the Insured Company's waiver. <br />F. Territory <br />The Policy applies to a third party wrongful act and first party incident occurring and claim made anywhere in <br />the world other than any country barred by the Office of Foreign Assets Control (OFAC). <br />GP MANU TRD 050 0619 Page 27 <br />© 2019 X.L. America, Inc. All Rights Reserved. May not be copied without permission. <br />
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